Use the following information to work on the Problems. 1. Cash-paying vultures pick bones of U.S. housing
Question:
Use the following information to work on the Problems.
1. Cash-paying vultures pick bones of U.S. housing market as mortgages dry up
New-home sales fell to an annual pace of 250,000 in February, an all-time low in records dating to 1963, the Commerce Department reported March 23. Existing-home sales dropped to a 4.88 million annualized pace in February, down 2.8 percent from a year earlier, the National Association of Realtors said, while the median price of existing homes fell to $156,100, the lowest since February 2002.
2. Classify each of the items in List 1 as a final good or service or an intermediate good or service and identify which is a component of consumption expenditure, investment, or government expenditure on goods and services.
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain